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CleanSpark, Inc. Announces Pricing of $550 Million Convertible Notes Offering

CleanSpark, Inc. Announces Pricing of $550 Million Convertible Notes Offering

CleanSpark, Inc. 宣佈55000萬美元可轉換債券發行的定價
PR Newswire ·  07:00

LAS VEGAS, Dec. 13, 2024 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), America's Bitcoin Miner ("CleanSpark" or the "Company"), today announced the pricing of its offering of $550 million aggregate principal amount of 0.00% Convertible Senior Notes due 2030 (the "Convertible Notes"). The Convertible Notes will be sold to the initial purchasers for resale in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").

拉斯維加斯,2024年12月13日 /PRNewswire/ -- CleanSpark公司(納斯達克:CLSK),美國的比特幣礦工("CleanSpark"或"公司"),今天宣佈其55000萬美元0.00%可轉換優先票據的發行定價("可轉換票據")。可轉換票據將以私下發行的方式出售給初始購買者,以便向合理相信符合資格的機構買家進行轉售,憑藉《1933年證券法》(經修訂)的第144A條款("證券法")。

Key Elements of the Transaction:

交易的關鍵要素:

  • $550 million 0.00% Convertible Senior Notes offering (20.00% conversion premium)
  • Capped call transactions entered into in connection with the Convertible Notes with an initial cap price of $24.66 per share of the Company's common stock (the "common stock"), which represents a 100% premium to the closing sale price of the common stock on December 12, 2024
  • The repurchase of approximately $145 million of the common stock from investors in the Convertible Notes
  • 55000萬美元0.00%可轉換優先票據發行(轉化溢價20.00%)
  • 與可轉換票據相關的封頂看漲交易的初始限制價格爲每股公司普通股24.66美元("普通股"),這比2024年12月12日普通股的收盤售價溢價100%。
  • 從可轉換票據的投資者處回購約14500萬美元的普通股。

CleanSpark has granted the initial purchasers of the Convertible Notes a 13-day option to purchase up to an additional $100 million aggregate principal amount of the Convertible Notes. The offering is expected to close on December 17, 2024, subject to satisfaction of customary closing conditions.

CleanSpark已向可轉換票據的初始購買者授予了13天的選擇權,以購買最多額外10000萬美元的可轉換票據。預計發行將於2024年12月17日完成,前提是滿足常規的交割條件。

Use of Proceeds:
The Company anticipates that the aggregate net proceeds from the offering of Convertible Notes will be approximately $535.9 million (or approximately $633.6 million if the initial purchasers exercise in full their option to purchase additional Convertible Notes), after deducting the initial purchasers' discounts and estimated expenses payable by the Company. The Company intends to use approximately $76.5 million of the net proceeds from the offering (assuming no exercise of the initial purchasers' option to purchase additional Convertible Notes) to pay the cost of the capped call transactions (as described below), to use approximately $145.0 million to repurchase shares of its common stock from investors in the Convertible Notes, and the remaining net proceeds for the repayment in full of amounts outstanding under Company's line of credit with Coinbase, capital expenditures, acquisitions and general corporate purposes.

收益的使用:
公司預計可轉換票據發行的總淨收益約爲53590萬美元(如果初始購買者完全行使其購買額外可轉換票據的選項,則約爲63360萬美元),在扣除初始購買者的折扣和公司需支付的估算費用後。公司打算將發售淨收益中的約7650萬美元(假設未行使初始購買者的購買額外可轉換票據的選項)用於支付封頂看漲交易的費用(如下所述),用於回購約14500萬美元的普通股,並將剩餘的淨收益用於償還公司在Coinbase的信用額度下的未償還金額、資本支出、收購和一般企業用途。

Additional Details of the Convertible Notes:
The Convertible Notes will be senior unsecured obligations of the Company. The Convertible Notes will not bear regular interest, and the principal amount of the Convertible Notes will not accrete. The Convertible Notes will mature on June 15, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. Prior to December 15, 2029, the Convertible Notes will be convertible only upon satisfaction of certain conditions and during certain periods, and thereafter, the Convertible Notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date.

可轉換債券的額外詳情:
可轉換票據將是公司的高級無擔保義務。可轉換票據不支付定期利息,且可轉換票據的本金金額不會增加。可轉換票據將在2030年6月15日到期,除非根據其條款提前回購、贖回或轉換。在2029年12月15日之前,可轉換票據僅在滿足特定條件和某些期間時可轉換,此後,可轉換票據將在到期日前的第二個預定交易日結束前的任何時間可轉換。

The Convertible Notes will be convertible into cash, shares of the common stock or a combination of cash and shares of the common stock, at the Company's election. The conversion rate will initially be 67.5858 shares of common stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $14.80 per share of the common stock). The initial conversion price of the Convertible Notes represents a premium of approximately 20.00% to the $12.33 closing price per share of the common stock on The Nasdaq Capital Market on December 12, 2024. The conversion rate will be subject to adjustment in certain circumstances. In addition, upon conversion in connection with certain corporate events or a notice of redemption, the conversion rate will increase.

可轉換債券可以按照公司的選擇轉換爲現金、普通股股份或現金與普通股股份的組合。初始轉換比率爲每$1,000可轉換債券面值67.5858股普通股(相當於每股普通股約$14.80的初始轉換價格)。可轉換債券的初始轉換價格相當於2024年12月12日在納斯達克資本市場每股普通股$12.33的收盤價的約20.00%的溢價。轉換比率將在某些情況下進行調整。此外,涉及某些企業事件或贖回通知時,轉換比率將會增加。

The Company may not redeem the Convertible Notes prior to June 20, 2028. The Company may redeem for cash all or any portion of the Convertible Notes, at its option, on or after June 20, 2028, if the last reported sale price of the common stock has been at least 130% of the conversion price then in effect on each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption to holders at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. In connection with certain corporate events or if the Company calls any note for redemption, it will, under certain circumstances, be required to increase the conversion rate for holders that elect to convert their notes in connection with such corporate event or notice of redemption.

公司在2028年6月20日之前不得贖回可轉換債券。公司可以選擇在2028年6月20日或之後以現金贖回所有或部分可轉換債券,前提是普通股的最後報告銷售價格在連續的30個交易日內(包括該期間的最後一個交易日)至少有20個交易日(不論是否連續)在贖回價格爲可贖回可轉換債券的面值100%加上是否拖欠的特殊利息的基礎上,若該期間的最後一個交易日的價格至少爲當時有效的轉換價格的130%。在涉及某些企業事件或如果公司呼叫任何債券進行贖回的情況下,公司在某些情況下將被要求爲選擇在此類企業事件或贖回通知中轉換債券的持有人增加轉換比率。

Holders of the Convertible Notes will have the right to require the Company to repurchase all or a portion of their Convertible Notes on June 15, 2028, and holders of the Convertible Notes will have the right to require the Company to purchase all or a portion their Convertible Notes upon the occurrence of a fundamental change (as defined in the indenture governing the Convertible Notes) at a repurchase price equal to 100% of the principal amount of their Convertible Notes, plus any accrued and unpaid special interest, if any.

可轉換票據的持有人有權要求公司於2028年6月15日回購其所有或部分可轉換票據,且可轉換票據的持有人將在發生根本性變化(如可轉換票據的契約中所定義)時有權要求公司以其可轉換票據的本金金額100%加上任何應計和未支付的特殊利息(如有)回購其所有或部分可轉換票據。

Capped Call Transactions:
In connection with the pricing of the Convertible Notes, the Company entered into privately negotiated capped call transactions with certain financial institutions (the "option counterparties"). The cap price of the capped call transactions will initially be $24.66 per share of common stock, which represents a premium of 100% over the last reported sale price of the common stock of $12.33 per share on The Nasdaq Capital Market on December 12, 2024 and will be subject to customary anti-dilution adjustments. If the initial purchasers of the Convertible Notes exercise their option to purchase additional Convertible Notes, the Company expects to use a portion of the net proceeds from the sale of the additional Convertible Notes to enter into additional capped call transactions with the option counterparties.

限價看漲交易:
與可轉換票據的定價相關,公司與一些金融機構("期權對手方")簽訂了私下談判的上限看漲交易。這些上限看漲交易的上限價格最初爲每股普通股24.66美元,相對於2024年12月12日在納斯達克資本市場上普通股的最後成交價每股12.33美元溢價100%,並將遵循慣例的反稀釋調整。如果可轉換票據的初始購買者行使購買額外可轉換票據的選項,公司預計將使用其額外可轉換票據銷售所得的部分淨收益與期權對手方簽訂額外的上限看漲交易。

The capped call transactions are expected generally to reduce potential dilution to the common stock upon conversion of any Convertible Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Convertible Notes, as the case may be, with such reduction and/or offset subject to a cap.

capped call 交易預計將普遍降低可轉換票據轉換時對普通股的潛在稀釋和/或抵消公司需要支付的超過已轉換可轉換票據本金金額的現金支付,具體減免和/或抵消將受限於上限。

In connection with establishing their initial hedges of the capped call transactions, the Company expects the option counterparties or their respective affiliates to purchase shares of the common stock and/or enter into various derivative transactions with respect to the common stock concurrently with, or shortly after, the pricing of the Convertible Notes. This activity could increase (or reduce the size of any decrease in) the market price of the common stock or the Convertible Notes at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to the common stock and/or purchasing or selling shares of the common stock or other securities of the Company in secondary market transactions following the pricing of the Convertible Notes and prior to the maturity of the Convertible Notes (and are likely to do so on each exercise date for the capped call transactions or following any termination of any portion of the capped call transactions in connection with any repurchase, redemption or early conversion of the Convertible Notes). This activity could also cause or avoid an increase or decrease in the market price of the common stock or the Convertible Notes, which could affect holders of the Convertible Notes' ability to convert the Convertible Notes and, to the extent the activity occurs following conversion of the Convertible Notes or during any observation period related to a conversion of the Convertible Notes, it could affect the amount and value of the consideration that holders of the Convertible Notes will receive upon conversion of such Convertible Notes.

在建立 capped call 交易的初始對沖時,公司預計期權對手方或其各自的關聯公司將在可轉換票據定價時或之後不久購買普通股和/或就普通股進行各種衍生交易。這一活動可能會在當時提高(或減少任何下降的幅度)普通股或可轉換票據的市場價格。此外,期權對手方或其各自的關聯公司可能通過進入或解除與普通股有關的各種衍生品或購買或出售普通股或公司其他證券,在可轉換票據定價後至可轉換票據到期之前進行二級市場交易,以修改其對沖頭寸(並且在每次 capped call 交易的行權日或在與任何可轉換票據的回購、贖回或提前轉換有關的任何 capped call 交易的任何部分終止後,也很可能這樣做)。這一活動也可能造成或避免普通股或可轉換票據市場價格的升高或降低,這可能影響可轉換票據持有人轉換可轉換票據的能力,並且,如果該活動發生在可轉換票據轉換後或與可轉換票據轉換相關的任何觀察期內,它可能影響可轉換票據持有者在轉換該可轉換票據時收到的對價金額和價值。

Share Repurchases:
The Company has agreed to repurchase shares of its common stock from certain of the investors in the Convertible Notes in privately negotiated transactions, at a purchase price per share equal to the $12.33 closing price per share of the common stock on The Nasdaq Capital Market on December 12, 2024.

股份回購:
公司已同意從某些可轉換債券的投資者那裏回購其普通股,回購交易是私下協商達成的,購買價格每股等於2024年12月12日在納斯達克資本市場普通股的收盤價12.33美元。

The Convertible Notes and any shares of common stock issuable upon conversion of the Convertible Notes, if any, have not been registered under the Securities Act, securities laws of any other jurisdiction, and the Convertible Notes and such shares of common stock may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Convertible Notes will be offered by the initial purchasers only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act.

可轉換債券及任何可根據可轉換債券轉換的普通股未根據證券法、任何其他管轄區的證券法註冊,而可轉換債券及此類普通股在未註冊或不適用證券法及任何適用的州證券法的註冊豁免的情況下,不得在美國提供或出售。可轉換債券僅限首次購買方向合理相信符合證券法第144A條款的合格機構投資者提供。

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy the Convertible Notes, nor shall there be any sale of the Convertible Notes or common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

本新聞稿不構成出售或誘導購買可轉換債券的要約,也不應在任何州或司法管轄區進行出售可轉換債券或普通股,除非在任何該等州或司法管轄區的證券法下進行註冊或合格。

About CleanSpark
CleanSpark, Inc. (Nasdaq: CLSK), America's Bitcoin Miner, is a market-leading, pure play Bitcoin miner with a proven track record of success. We own and operate a portfolio of mining facilities across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our mining facilities to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by securing the most important finite, global asset – Bitcoin – positions us to prosper in an ever-changing world. Visit our website at .

關於CleanSpark
CleanSpark, Inc.(納斯達克: CLSK),美國的比特幣礦工,是一家市場領先的純比特幣礦工,擁有成功的良好記錄。我們在美國各地擁有和運營一系列礦場,利用全球競爭性的能源價格。處於比特幣、能源、運營卓越和資本管理的交匯點,我們優化我們的礦場,以爲我們的股東提供優質回報。通過確保最重要的有限全球資產——比特幣,變現低成本、高可靠性的能源,使我們在不斷變化的世界中蓬勃發展。訪問我們的網站。

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts, such as statements concerning the estimated net proceeds of the offering, the anticipated use of such net proceeds and expectations regarding the closing of the offering. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as "plan," "believe," "goal," "target," "aim," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would," "will" and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of CleanSpark's management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others, uncertainties related to the completion of the offering and related transactions, including risks related to the satisfaction of the closing conditions for the sale of the Convertible Notes, and other risks described in the Company's prior press releases and in the Company's filings with the Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" in those filings, and other risks the Company may identify from time to time. Forward-looking statements contained herein are made only as to the date of this press release, and the Company assumes no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law.

前瞻性聲明
本新聞稿包含根據1995年《私人證券訴訟改革法案》(經修訂)的「安全港」條款的前瞻性聲明。這些前瞻性聲明包括關於預期未來事件和預期的陳述,這些陳述不是歷史事實,例如關於發行的預計淨收益、預計使用這些淨收益及關於發行完成的預期的陳述。除歷史事實的陳述外,所有陳述都可以被視爲前瞻性聲明。此外,前瞻性聲明通常用諸如「計劃」、「相信」、「目標」、「指標」、「瞄準」、「期待」、「預期」、「意圖」、「展望」、「估計」、「預測」、「項目」、「繼續」、「可能」、「或許」、「可能」、「潛在」、「預測」、「應該」、「會」、「將」和其他類似的詞語和表達來識別,儘管缺乏這些詞語或表達並不意味着該聲明不是前瞻性聲明。前瞻性聲明基於CleanSpark管理層的當前預期和信念,並且固有地受到多種因素、風險、不確定性和假設及其潛在影響的影響。未來的發展是否會如預期那樣並不能保證。實際結果可能因各種因素、風險、不確定性和假設而與前瞻性聲明所表達或暗示的結果有重大差異,包括與發行及相關交易的完成相關的不確定性,包括有關可轉換債券出售的交割條件滿足的風險,以及公司之前新聞稿中描述的其他風險及公司向證券交易委員會(「SEC」)提交的文件中「風險因素」標題下的其他風險,以及公司可能不時確定的其他風險。本新聞稿中包含的前瞻性聲明僅在本新聞稿的日期有效,且公司不承擔因任何新信息、情況變化或未來事件或其他原因更新或修訂任何前瞻性聲明的義務,除非適用法律要求。

Investors:
Harry Sudock, SVP
702-989-7693
[email protected]

投資者:
哈利·蘇多克,高級副總裁
702-989-7693
[email protected]

Media:
Eleni Stylianou
702-989-7694
[email protected]

媒體:
埃琳娜·斯蒂利亞努
702-989-7694
[email protected]

SOURCE CleanSpark, Inc.

來源 CleanSpark, Inc.

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